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Portfolio > Economy & Markets > Fixed Income

ETFs Move Out on the Yield Curve

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BlackRock’s iShares has launched two new fixed-income ETFs that will provide a way to allocate portfolio assets to a broad index of longer corporate, U.S. and international bonds. The iShares 10+ Year Credit Bond Fund (CLY), tracks the BofA Merrill Lynch 10+ Year US Corporate & Yankees Index, intended to mimic “long-term, investment-grade U.S. corporate and Yankee bond markets,” according to a December 9 announcement. The index components include publicly issued corporate debt of U.S. and non-U.S. dollar-denominated companies, and “foreign government debt and supranational debt,” with at least 10 years to call or maturity and outstanding face value of $250 million or more.

The iShares 10+ Year Government/Credit Bond Fund (GLJ) tracks the BofA Merrill Lynch 10+ Year US Corporate & Government Index. Components of this index include the investment-grade corporate, foreign government and supranational debt above, plus U.S. Treasury and agency debt.

BlackRock completed a merger with Barclays Global Investors on December 1, including the iShares ETFs brand. Matt Tucker, director of U.S. Fixed Income Strategy at BlackRock, said in the release that the new fixed income ETFs will, “provide investors with targeted exposure to the long end of the yield curve in the government and credit markets.”

Comments? Please send them to [email protected]. Kate McBride is editor in chief of Wealth Manager and a member of The Committee for the Fiduciary Standard.


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